Data published by the Federal Statistical Office (FSO) showed that in March consumer prices rose by 0.3% per year after a similar increase in February. Economists expected an increase of 0.5% per annum. The FSO said this was the weakest price increase since April 2021.
On a monthly basis, consumer prices remained unchanged, as expected, after rising 0.6% in February (the strongest price increase since February 2024). The stability of the index was the result of contrasting trends that offset one another overall. Prices for international package holidays and for daily and periodical subscriptions increased, along with those for clothing and footwear. In contrast, prices for supplementary accommodation and the hire of private means of transport decreased, as did those for fuels and heating oil.
Core inflation - excluding fresh and seasonal products, energy and fuel – increased by 0.1% on a monthly basis and by 0.9% per year.
The data also showed that in March, the harmonized index of consumer prices (HICP) - an indicator that allows to compare inflation in Switzerland with inflation in European countries – fell by 0.1% compared to February and rose by 0.1% per year.